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Author Topic: Define rich  (Read 1726 times)

Lectorog

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Re: Define rich
« Reply #15 on: September 01, 2013, 10:35:04 am »

Rich for me would be never having to be concerned about the quantity of my wealth. Meaning, I don't have to seek a job, and I can make any purchases without worrying about whether I can afford them.

It's worth noting that this definition of rich is dependent on one's lifestyle. Having a reliable source of income (through employment or otherwise) and having no interest in expensive purchases would be rich, even if you hadn't a penny in savings.

For me personally, this would mean having no job, but a huge amount of spending power wouldn't be required. Give me a few grand now and I'd consider myself rich until I finished college (after which my living expenses won't be paid for with scholarships).

EDIT:
Webster's defines it as:
1 : having abundant possessions and especially material wealth
2 : well supplied or endowed

The lexicographer strikes again.
But what does it meeeeeeaaaan
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Flying Dice

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Re: Define rich
« Reply #16 on: September 01, 2013, 12:35:21 pm »


good opportunities for employment

It's interesting to me that you would include this in your list. In my own worldview, being concerned with employment at all is probably an indicator that one is not rich.

Mm, it's certainly the most questionable item I mentioned. Allow me to elaborate: You are in a situation where you have no concerns about being able to find a well-paying job, due to having a high-quality education, a record of building and using relevant skills, many connections in the business, etc., and even if you don't you have sufficient investments and savings that being unemployed will not noticeably affect your lifestyle for years at the least. In other words, such an individual is explicitly not concerned in regards to employment because they know that it is trivial for them to find a high-paying job with good benefits.
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Vector

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Re: Define rich
« Reply #17 on: September 01, 2013, 02:45:59 pm »

Eh. . . I'm concerned with employment (a little) and I still feel rich.  Part of this is my age, though.  I'm in a great position for how old I am.
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Solifuge

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Re: Define rich
« Reply #18 on: September 01, 2013, 04:43:33 pm »

I would consider myself Rich when I made enough to have shelter, food/necessities, and some luxuries (heating/cooling, electricity, internet) without spending the majority of my income. Most of it would go to saving for trips, entertainment, and philanthropy, and I'd have the flexibility to pursue the personal projects I want to pursue.

"Being Able To Live Off Interest Alone" would be the most I would be comfortable earning, before I had to start spending vast quantities of it on other people.
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Bauglir

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Re: Define rich
« Reply #19 on: September 01, 2013, 07:05:03 pm »

Rich for me would be the one where I need no longer work for income in order to get by from month to month. However, the concept to me has more to do with how much money I have rather than how much money I'm making or my stock of non-liquid possessions, if you see what I mean. So while I've got every material possession I need and most of the ones I want, I still wouldn't consider myself rich. Conversely, it'd be conceivable that I could be rich without having a life with my material needs fulfilled, although this would require some bizarre circumstances, considering how efficiently money can purchase things these days. Infrastructure is a hell of a thing.

Anyway, point is, I'm not 100% sure I've answered the question you want answered. Is it as straightforward as it looks, or are you looking for ideas about prosperity in general?
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SealyStar

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Re: Define rich
« Reply #20 on: September 01, 2013, 07:54:11 pm »

I'm not going to go into the depths of what one can and cannot afford with what level of comfort and ease. I would say $250k/year is, for the US, enough to be "rich" (and that's apparently what the government thinks, given that the top income tax bracket is somewhere near there AFAIK). "Wealthy" or "affluent" starts around $100k, which is more like "I don't have to worry about budgets to afford everything I need" compared with "rich" being like "I have enough money that I only really budget and worry about particularly expensive things like cars and houses and Jacuzzis".
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misko27

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Re: Define rich
« Reply #21 on: September 01, 2013, 09:07:48 pm »

Rich is defined for me as being wealthy enough to throw money at my problems. Not necessarily solving them mind, but the option of simply pouring money into them is enough. Given everyone has different priorities and different problems, this varies of course.
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